Asked by: Richard Holden (Conservative - Basildon and Billericay)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 27 October 2025 to Question 82997 on the Restoring Your Railway Fund, whether the audit was independently reviewed by (a) the Office for Budget Responsibility and (b) another external body.
Answered by James Murray - Chief Secretary to the Treasury
In July 2024, the Chancellor of the Exchequer instructed HM Treasury officials to undertake an audit of public spending. The audit’s findings showed a forecast overspend on departmental spending of £21.9 billion above the totals that had been set at Spring Budget 2024.
Taking immediate action to respond to the spending pressure, the government cancelled unfunded policy announcements made by the previous government, including the Restoring Your Railway programme.
The full Spending Audit summary can be found on GOV.UK.
The OBR conducted a review into the Spring Budget 2024 forecast which is available on their website, setting out that if the OBR had been aware of the scale of pressures at the time, they would have reached a “materially different judgement about...spending in 2024-2025”
Asked by: Richard Holden (Conservative - Basildon and Billericay)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of existing rates of gaming duty on the land-based bingo sector in the context of (a) the pandemic and (b) trends in operating costs.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
No formal assessment has been made. Bingo Duty is charged at 10% of a Bingo Hall’s Gross Gaming Yield and is the second lowest rate of the seven gambling duties.
The Government keeps all taxes under review, and the Chancellor makes decisions on tax policy at fiscal events in the context of the overall public finances.
Asked by: Richard Holden (Conservative - Basildon and Billericay)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of proposed changes to benefit in kind taxation for vehicles provided through Employee Car Ownership Schemes on retired scheme participants; and if she will make an assessment of the potential merits of introducing a (a) grandfathering provision and (b) exemption for existing retirees to avoid retrospective taxation.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
At Autumn Budget 2024 the Government announced plans to change the legislation around Employee Car Ownership Schemes (ECOS), to prevent them being used by employers to circumvent the employee company car tax (CCT) liability and the employer NICs liability. Private use of a company car is a valuable benefit to an employee, and it is right that CCT is paid on it, ensuring fairness with other taxpayers.
On 21 July 2025, the Government published draft legislation to ensure employees receiving vehicles through these arrangements pay CCT. In response to industry feedback, the changes will now take effect from October 2026 rather than April 2026 as originally announced.
The Government is considering feedback received as part of the technical consultation.
Asked by: Richard Holden (Conservative - Basildon and Billericay)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to her comments at at the JP Morgan Tech Stars conference on 7 October 2025, which development she was referring to in the context of the developer with which she had a good relationship.
Answered by James Murray - Chief Secretary to the Treasury
The government has been clear in its commitment to get Britain building.
Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at: https://www.gov.uk/government/collections/hm-treasury-ministerial-overseas-travel-and-meetings
Asked by: Richard Holden (Conservative - Basildon and Billericay)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to her comments at at the JP Morgan Tech Stars conference on 7 October 2025, with whom at the developer she had a good relationship.
Answered by James Murray - Chief Secretary to the Treasury
The government has been clear in its commitment to get Britain building.
Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at: https://www.gov.uk/government/collections/hm-treasury-ministerial-overseas-travel-and-meetings
Asked by: Richard Holden (Conservative - Basildon and Billericay)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 24 October 2025 to Question 82402 on Airports: Business Rates, what the rateable value is of each airport that may be uprated; what the proposed revaluation from the Valuation Office Agency is for each airport; and which airports the Valuation Office Agency is receiving ongoing representations relating to.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
Due to legislation protecting taxpayer confidentiality, the VOA is unable to disclose information about individual ratepayers or properties; this also includes proposed rateable values.
The VOA are currently working on a revaluation of all non-domestic properties. This will come into effect on 1 April 2026, with draft valuations published by the end of this year.
The VOA have been engaging with representatives from the airports industry, including all civil airports in England and Wales, and held discussions with Airports UK.
Asked by: Richard Holden (Conservative - Basildon and Billericay)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 14 July 2025 to Question 65386 on VAT Treatment of Private Hire Vehicles, if she will publish the Government’s response to the consultation referred to in that Answer.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Government continues to take the issue of VAT treatment of private hire vehicle services seriously and recognises the importance of clarity to the sector. The Government will therefore publish a response to the consultation on the VAT treatment of private hire vehicles soon.
Asked by: Richard Holden (Conservative - Basildon and Billericay)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of nationalising the rail network on the Government's (a) balance sheet, (b) debt and (c) future liabilities in each of the next ten years.
Answered by James Murray - Chief Secretary to the Treasury
The Office for National Statistics (ONS) are responsible for classification decisions and measurement of public debt. Both publicly and privately owned DfT-contracted train operating companies are already included in the public sector, classified currently by the ONS as public non-financial corporations. Network Rail is also already classified to central government. HM Treasury and Department for Transport officials will assist the ONS in this work as required.
Asked by: Richard Holden (Conservative - Basildon and Billericay)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 8 September 2025 to Question 71255 on the Restoring Your Railway Fund, if she will publish all the assessments undertaken by her Department relating to the decision to cancel the Restoring Your Railway fund.
Answered by James Murray - Chief Secretary to the Treasury
In her first week on the 8th of July 2024, the Chancellor of the Exchequer instructed HM Treasury officials to undertake an audit of public spending and public finances left by the last government. The audit’s findings showed a devastating forecast overspend on departmental spending of £21.9 billion above the resource departmental expenditure limit (RDEL) totals that had been set at Spring Budget 2024.
Taking immediate action to respond to the spending pressure on the UK’s public finances left by the last government, the government cancelled the Restoring Your Railway programme as a vital cost-saving measure of £85 million.
HM Treasury always carefully considers the impact of its decisions, but had to make difficult decisions in light of the black hole left by the last government.
Asked by: Richard Holden (Conservative - Basildon and Billericay)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department has made an assessment of the potential impact of a national road-user charging system on (a) data-protection and (b) costs in administration.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
Fuel duty is projected to raise £24.4bn in 2025/26 and will remain in place. At Autumn Budget 2024, the Government announced continued support for people and businesses by extending the temporary 5p fuel duty cut and cancelling the planned increase in line with inflation for 2025/26.
The Chancellor meets with her Ministerial colleagues on a regular basis to discuss a wide range of issues. The Government keeps the tax system under review, with changes announced at fiscal events.